EXPLORATION 1999 — Juniors assess Twi-Lite

Partners Fort Knox Gold Resources (FNX-T) and Northway Explorations (NOW-T) have begun preliminary drilling at their Twi-Lite gold property in central Newfoundland.

Ten shallow holes totalling 1,400 metres will test several gold showings that have returned up to 202 grams gold per tonne in grab samples. The showings outcrop in an area measuring 1.2 km long and up to 200 metres wide, and which is coincident with geophysical and soil-geochemical anomalies.

Mineralization is found in various rock types, including quartz-carbonate veins and bedded pyritic and graphitic mudstones. As well, a halo of anomalous gold mineralization in felsic volcanics and sediments exhibiting pervasive iron-carbonate alteration extends up to 1 km away from the known showings.

Northway is funding the program as part of its requirements to earn a half-interest in the property from Fort Knox, which is the operator.

Drilling will be followed by a property-wide assessment that will incorporate geochemical sampling, geophysical surveying and geological mapping. Additional drilling is also planned.